The consumption credit, like all other credits, is conditional on a minimum of income in order to ensure that the lending institution reimburses the sums lent. The fact of perceiving the unemployment or the RSA do not present, therefore, in theory, the best conditions for obtaining a credit conso. Nevertheless, there is no law prohibiting an unemployed person from taking out consumer credit.
An unemployed person certainly needs more credit than another, but it is more difficult to get into it. The use of consumer credit for the purchase of a vehicle for example can even condition the return to employment. This is why the person wishing to borrow any interest to argue his project to convince lenders.
The arguments to put forward to obtain a conso loan
As income does not reassure banks during jobless periods, it is important to put forward other arguments.
It will be easier for the future borrower to get his loan if he starts a period of unemployment and his rights are still running over a long period. Moreover, it is preferable that the end of the credit ends before the end of the unemployment rights. For people with RSA and unemployment, the bank will look at the debt ratio which should not exceed 33% of income as for any credit but especially on the remaining lives of future borrowers. The remainder to live corresponds to the disposable income once all the charges of credits paid. If it is too weak, no credit will be granted.
The applicant for consumer credit can put forward:
- the fact that he owns no credit and therefore does not charge rent or mortgage
- the fact that he has a claim period (unemployment) that falls within the credit period
- the fact that he owns an investment product, life insurance type.
In all cases, the usefulness of the financing will be examined, if it is a pleasure purchase, the banks will be doubly reluctant (even if it remains possible) and will privilege the essential purchases of daily life or in connection with a recovery of activity.
It is also interesting to privilege conso credits allocated, the bank can take as collateral the financed property and resell it at auction in case of non-payment of the credit.
Solutions in case of refusal
Even if there is no legal prohibition on borrowing money when you are unemployed, credit institutions have every right to refuse to lend money to anyone. If there are refusals two other solutions may exist:
- Get closer to his family allowance fund, which can in certain cases issue credits without proof of income
- Getting closer to a social worker to apply for personal microcredit
What about students?
Students can benefit from a dedicated credit that is dedicated to them. As part of their higher education, young people with a school certificate can receive a student loan to finance their studies called student loan or credit. The student loan can finance the payment of a school, a vehicle, or expenses of the daily life. It allows students to postpone the payment of monthly payments until the end of studies and pay only interest and insurance during studies.
- Determine the amount needed to borrow
- Have a certificate of schooling
- Have a deposit (parents in most cases, sometimes state)